It is generally believed that the 1997 financial crisis in East Asia was partly due to accounting factors in that part of the world. Which of the following accounting values was lacking in that part of the world and thereby contributed to the crisis?

Question

Quizplus · Accepted Answer

The lack of transparency in accounting practices in East Asia contributed to the 1997 financial crisis. Companies in the region were not required to disclose their financial information fully, which made it difficult for investors to make informed decisions. This lack of transparency also led to a buildup of debt and malinvestment, which ultimately contributed to the crisis.

It Is Generally Believed That the 1997 Financial Crisis in East